FuelCell Energy to purchase 42 1.4MW fuel cell modules by GGE

FuelCell Energy, Inc., a global leader in fuel cell technology, has signed a significant agreement with Gyeonggi Green Energy Co., Ltd. (GGE), a Korean energy company. The deal involves the purchase of 42 upgraded 1.4-megawatt fuel cell modules by GGE for the Hwaseong Baran Industrial Complex, the world’s largest fuel cell power platform.

The agreement includes a new seven-year service contract for FuelCell Energy to maintain the fuel cell modules. This partnership is set to generate approximately $160 million in revenue for FuelCell Energy over the agreement term. Located in Hwaseong-si, the Hwaseong Baran Industrial Complex was established in 2013 using FuelCell Energy’s design and technology.

With a capacity of 58.8 megawatts produced by the fuel cell modules, the complex can power around 135,000 homes and generate hot water for heating about 20,000 homes annually.

FuelCell Energy’s presence in South Korea aligns with the country’s 2019 Hydrogen Economy Roadmap, which aims to produce 15 gigawatts of power from fuel cells by 2040. The company’s technology contributes to South Korea’s efforts to reduce air pollution from fine dust and particulate matter.

Jason Few expressed the company’s commitment to delivering clean, efficient, and reliable energy solutions to the Korean market. He emphasized the importance of contributing to Korea’s Hydrogen Economy Roadmap and the global standard for low to zero-carbon power generation.

Kim Dae Young highlighted the role of the partnership in providing clean baseload power for Korean households and supporting the country’s clean environment initiatives.